XXIX Metal Corp. Thanks Chapais Residents for Active Participation in Opemiska Project Consultations

Core Insights - XXIX Metal Corp. expresses gratitude to Chapais residents for their engagement in the Opemiska Project consultations, marking a significant step in community collaboration [2][3] - The Opemiska Project aims to revitalize a historic copper mining site with an estimated investment exceeding C$3.5 billion over approximately 20 years, enhancing local economic benefits [4][5] Project Overview - The Opemiska Project is positioned as one of Canada's most promising copper development initiatives, with a Preliminary Economic Assessment (PEA) indicating robust economic potential [5] - The project includes a processing plant within Chapais to maximize local advantages and is expected to generate significant revenue and job opportunities [4][12] Economic Assessment - The PEA outlines a C$505 million after-tax Net Present Value (NPV) at an 8% discount rate and a 27.2% after-tax Internal Rate of Return (IRR) [6] - Utilizing current metal prices, the after-tax NPV could rise to C$897 million with a 39.3% IRR, indicating strong leverage to increasing copper and gold prices [6][7] Production and Cost Metrics - The project anticipates an average annual production of 59 million pounds of copper, 34,000 ounces of gold, and 174,000 ounces of silver during the first six years [11] - The C1 cash cost is projected at US$1.03 per pound, positioning Opemiska in the lower quartile of the global cost curve [11] Community Engagement - XXIX Metal Corp. is committed to ongoing dialogue with residents, including thematic workshops and regular newsletters to keep the community informed [8][13] - The company plans to establish a monitoring committee to ensure transparency and citizen participation throughout the project's development [13] Future Steps - The company will continue to engage with the Chapais community, providing updates and information through its dedicated website [9] - The management emphasizes the project's potential to deliver long-term economic and social benefits to Chapais and the surrounding region [9]